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I need Martingale EA with a slight difference. Martingale normally opens double the position when market goes against. I want an EA which opens double the positions when market goes in favor.
There should always be a buy position and sell position.
Maximum spread = X(if x = 8, first entry will not get opened if spread is more than 8 pips. Applicable only to the 1st entry)
1st position is = x (Example 0.01 lots)
Pip Step = X )if x=30 double position gets opened every 30 pips)
Number of positions = X ( If x = 4 then lots will be 1,2,4,8)
Stop loss = X (Example 30 pips)
Profits = X pips from the first entry.
Example (pips step = 20 stop loss = 20 pips and target = 100 pips Number of positions = 4)
Buy 1 lot at 1.3100 (stop loss at 1.3080 target 1.3200)
Buy 2 lots at 1.3120 (stop loss for all at 1.3100 target at 1.3200)
Buy 4 lots at 1.3140 (stop loss for all at 1.3120 target 1.3200)
Buy 8 lots at 1.3160 stop loss for all at 1.3140 target 1.3200
END
There should always be a buy position and sell position.
Explanation : Buy 1 lot EUR at 1.3202 / Sell 1 lot EUR at 1.3200
When EUR goes to 1.3222 Sell position get closed in loss. At the same time 2 buy position gets opened. Since there is no sell position, EA should open 1 sell position also